At CoreMedia, we believe that companies in all customer-facing industries - including both B2C and B2B - are on the verge of an enormous shift in the way they manage their global brand presence. Are you ready for it?
Content Management Systems (CMS) are a massive technology wave that continues to grow. In all industries, an increasing percentage of value creation is now done through digital technology. New players emerge with the knowledge and the moxie to disrupt existing businesses through innovative customer experiences and smarter digital technology – often in physical environments such as bricks-and-mortar stores that were once considered entirely distinct from the digital ecosystem.
As a result of this increasing digitization, the global Web Content Management (WCM) market is predicted to grow to $11B by 2023 with a compound annual growth rate (CAGR) of 15.2%.
The CMS market is just the latest of several major technology waves we've seen over the last few decades, including enterprise resource planning (ERP) and customer-relationship management (CRM) systems. Each has followed a similar pattern: rising complexity drives the need for increased agility and greater synchronization of data across previously disconnected systems.
We're now on the verge of another major wave: global, omnichannel brand orchestration. And once again, it is being driven by an abrupt increase in complexity. This new technology wave promises to grow much faster than the overall CMS market, of which it's a subset. But before you can fully understand what brand orchestration is you need to understand the problems that make it necessary.
Increasingly, brands compete through better customer experience, and this means content is at the heart of everything. Iconic brands have better stories to tell. And they know how to tell them better.
But telling these stories is harder than ever. The world of online information moves faster every day. The number of digital channels is growing at an accelerating rate. According to Forrester Research, companies will spend $146 billion on digital marketing by 2023. But that's only the beginning. The biggest transition will be the merging of the physical the digital.
To stay competitive and reinvent their customer experiences for this new era, brands will need to be able to deliver iconic micro-experiences and relevant content at every step of the customer journey – both online and offline.
The challenge is that delivering the right brand stories to the right customer in the right format at the right time and place has never been harder. According to a recent Gartner survey, the top three challenges for marketers include: 1) managing a global brand (35%), keeping the brand relevant (35%), and measuring the impact of brand investments (31%).
Another challenge faced by marketers and brand managers is the exploding Marketing Tech ecosystem. Scott Brinker’s famous Marketing Technology Landscape Supergraphic (otherwise known as the Martec 5000) has grown from a mere 150 solutions in 2011 to almost 7,000 today with no evidence consolidation will occur any time soon. And this is just the marketing side.
Every additional touchpoint and and every new tool increases the complexity of the digital brand ecosystem.
Brand orchestration is the ability to manage these digital experiences at scale, personalize them, and deliver them consistently (in real-time) to any channel – physical or digital. Acting instantly and communicating effectively is the name of the game.
Although these solutions will be an evolution of content management, they will also need to encompass a wider range of touchpoints and content types. They must be open and flexible enough to integrate with a broad range of best-of-breed marketing and commerce tools, and must include a business user interface that enables marketers and merchandisers to act quickly and at scale.
So, at a minimum, brand orchestration must consist of the following elements:
Brand orchestration will, therefore, become the system of record for all successful brands through the ability to manage content for all customers, including instant updates, and the synchronization of experiences across all touchpoints – including online and mobile experiences, but also in-store, programmatic advertising, out-of-home, and video.
This is why we believe the market for brand orchestration will grow much faster than the overall CMS market – driven, in part, by the increasing size of CMO IT budgets, which are increasingly on par with the CIO's tech budget. We expect the demand for these types of solutions will expand dramatically in the next few years and that the competition to become the leading brand orchestration technology provider will be fierce.
And the opportunity is huge. Salesforce alone aims to grow their revenue to $28B by 2023. Assuming all of Salesforce's CRM customers will need to invest in some form of brand orchestration (and that they allocate an average of 10% on these solutions) this would create a $3B opportunity for brand orchestration within the Salesforce ecosystem alone.
Now that you have a better understanding of why brand orchestration is needed and what it consists of, the question is: how do you get there? What will the path be, from where you are today to where you need to tomorrow?
To help answer this question, let's take a look at how a couple of our customers are managing these challenges.
Emerson Electric, headquartered in St. Louis, is a global technology and engineering powerhouse, providing innovative solutions for customers in industrial, commercial and residential markets.
With customers and authors spanning multiple regions and covering a wide variety of content types, Emerson needed to move from numerous individual brand sites to a single global enterprise site in a way that would unify the company’s online presence without causing any major disruptions.
This required a solution that allowed for templated authoring, company-wide workflow management and global asset delivery. Diverse global companies like Emerson rely on CoreMedia to deliver seamless integration with content and catalog data across various brand sites, ensuring rich interactive experiences that are both engaging and informative.
The company chose CoreMedia Content Cloud based on its ability to provide a seamless authoring experience that optimizes content delivery across any digital channel, site, language or region.
Even the fact that it's not a B2C business, Emerson promotes its products as broadly and aggressively as any consumer-facing company. CoreMedia Content Cloud not only brought together Emerson's multiple brands, it also allows them to tell their brands stories across any platform - including social channels - in any region, and in real-time.
Another B2B business that has benefited from the brand orchestration capabilities of CoreMedia Content Cloud is Continental Tires. With revenues of about 44 billion euros in 2018, Continental is one of the world’s leading automotive industry suppliers. As a provider of brake systems, components for drives and chassis, instrumentation, infotainment solutions, vehicle electronics, tires and technical elastomer products, Continental is shaping the key trends in the automotive industry while also contributing to safe and intelligent mobility as well as global climate protection.
With its previous online infrastructure, Continental was unable to maintain its desired level of brand consistency across its different marketing channels. A new system needed to fulfill a number of requirements, including: the introduction of new content models based on product assets not pages; connectivity to third-party systems (ensuring future expansion); parallel output of a variety of formats from a single data store; and usability improvements for all editorial users. A new solution also needed to provide support for localizing core content for international markets.
Today, more than 220 divisional and departmental websites use CoreMedia to ensure they are consistent and up-to-date. The new CoreMedia system also sources content automatically from existing product databases, integrates with a number of existing Web applications and has full connectivity with the in-house ERP system.
That's how a couple of our customers are using brand orchestration to conquer their challenges, but we know that every company is unique. CoreMedia’s evolutionary implementation process is designed to support companies at every stage of their growth from initial prototype to departmental projects to global, large scale enterprise implementations. Find out how we can help you get up and running quickly and affordably so that you can develop your brand orchestration engine at a pace that makes sense for you.